Ripple XRP/USD completes the trading week near the area of 0.4612. Cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a downward trend in Ripple. The test of the Ichimoku Kinko Hyo signal line region is expected near the level of 0.5000, from where it is necessary to expect a rebound and an attempt to continue the fall of cryptocurrency with a target near the level of 0.3000.
Ripple weekly forecast October 29 — November 2, 2018
An additional signal in favor of the fall of cryptocurrency will be the test of the resistance level, as well as the test of the upper limit of the bearish channel. Previously, a strong signal was received for SELL the Ripple cryptocurrency, due to the crossing of signal lines at the level of 0.62.
Canceling the option of falling Ripple quotes will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with quotes closing above 0.5600, indicating a change in the downward trend in favor of a bullish trend. Expect to accelerate the fall of cryptocurrency costs with the breakdown of the support area and closure below 0.4300.
Ripple weekly forecast October 29 — November 2, 2018 suggests an attempt to develop a correction to the level of 0.5000, where a rebound is expected and the cryptocurrency will continue to fall with a potential target near the level of 0.3000.